The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business loans.
All that’s needed to get started is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to borrow and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are, but not for starting:
Once we’ve started with loans over $150,000 you’ll also require the following financial statements:
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
It is imaginable to apply to get your Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and the money could be in your account in 24 hours. Traditional company loans are based on an annual interest rate as well as other fees and charges. The company loan is a pre-paid loan therefore you’ll be aware of the total amount payable including the interest, fees and charges. This is then divided into weekly or daily amount to be paid back.
The Small Business Loan can be used to fulfill almost any company purpose including cash flow management, company improvements, advertising for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to have been operating for at least three years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger business loan can be used for nearly all company use, including business renovations, to purchase new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed for accessing funds over $150,000. It is usually by taking a charge on assets, which could also be registered in the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature rather than specifying the security of a specific asset. The person signing the guarantee is personally accountable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
Caveats are legal document lodged to offer an official notice of a claim on a property.
If you’re seeking a Larger Business Loan that is greater than $250,000 we may be able to provide an initial pre-approval in order to make the process. We might be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health checks. This is neither an offer nor a guarantee of credit. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you are offered could have different terms.
You are eligible to apply for an business loan if you:
The application process is quick and simple. Complete the online form in just a few minutes, and a dedicated company lending specialist will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide an answer within an hour – as long as you submit your request in standard company hours and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statement, we’ll offer an answer in just 1 business day.
For the Larger Business Loan ($100K or more) we might be able to provide you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved within 24 hours.
The most effective method would be to make sure you apply during normal company hours, and let us use the advance bank verification to verify your bank account information online. If you opt to upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K and up) we can often offer an answer within an hour if you make your application within normal business timings and let us use the bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements, we are able to provide a decision in just the span of one business day.
For Larger Business Loans ($100K and up) we may be in a position to provide you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some agreements have been approved within just 24 hours.
The fastest method is to ensure you apply during normal business hours. You can also let us use the advance bank verification link to instantly verify your bank information online. If you send us copies of your bank statements, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a particular amount, we consider a variety of elements in order to assess how much we can lend you well-being of the business as well as the amount of repayments that your business will be able to support. The total amount of the loan will be determined by the particular circumstances that are unique to your company.
When you apply for a certain amount, we consider a variety of elements to assess your health of the company and the level of repayments your company is able to afford. The total amount of your loan will be contingent on the particulars the company.
When you apply for business loans with us business credit, we will assess the risk profile the company and provide you with a customised offer, including loan amount, term and the interest rates. This company loan is an upfront cost loan and you’ll know the exact amount to be paid, including any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors including the amount borrowed, the company assets the money will be used for as well as the field the company is operating in, how long the business has been running for, in the event that the company has enough cash flow to cover the loan, and the overall well-being or creditworthiness of the business.
There are no hidden fees with our company loans, and you’ll know precisely how much you’ll need to pay, and when, right from day one. There’s not any compounding interest and no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You can make an application for loans with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of loan.
You may choose to pay back the total amount of your loan at any point in time.
If you choose to do this please call our helpful business lending professionals. They will offer you with repayment details and an early payout figure. This will be calculated as the total of the principal amount remaining and accrued interest to the time of early payout in addition to 1.5% of the principal balance as well as any outstanding fees.
To make sure that you don’t miss repayments and to fit in with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from the nominated company account.
Protecting your information, and being upfront about the ways we gather, use, exchange and protect your information, is of paramount importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We use an advanced bank verification system to immediately confirm your bank account information online, allowing us to offer quick responses.
The term "asset-based" refers to borrowing where the business owner borrows from an asset that they own to obtain the funds for a loan. The asset could be a personal asset like the family home or it could be a business asset like a truck or piece of equipment.
The majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset might be offered for sale by the lender. In essence, it’s a way of securing additional financing making use of the value of what you already have.
Up to $150K in loans no asset security is required upfront to access the money However, we require a personal guarantee. require the personal guarantee. As long as you follow the terms of your loan (as detailed in your loan contract) the security of assets is not needed. If you take out loans in excess of $150K typically, you will need personal guarantee and security that is in the form the charge of assets.
